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Home » Stock Market News » MaxCyte Inc slashes workforce by 15%, ups revenue forecast

MaxCyte Inc slashes workforce by 15%, ups revenue forecast

Written by Miroslav Marinov
Miroslav Marinov
Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.
, | Updated:

MaxCyte Inc (NASDAQ: MXCT) said on Monday that it had reduced 15% of its workforce, which affected 21 jobs and saved nearly $5.8 million in 2025.

As a result, its staff will be brought to 116 by the end of 2024, it said.

The company also revised up its full-year 2024 core revenue forecast, expecting 6% to 8% growth. It had previously forecast a 5% core revenue growth.

Stock Performance

The shares of MaxCyte Inc (MXCT) closed 0.56% ($0.02) higher at $3.60 on Nasdaq on Friday, as they reversed a loss from the previous market session.

The company’s total market cap now stands at $379.739 million.

The shares of MaxCyte Inc (MXCT) went down 13.92% in 2023, compared with a 43.42% gain for the benchmark index, Nasdaq Composite (IXIC).

The company’s shares have retreated another 23.40% so far this year.

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